GENCOSHIPPING&TRADINGIIMITEDGENCOCONSTANTINEDeutsche Bank's2023 Shipping SummitMarch 1,2023NYSE:GNK
Forward LookingStatementsG
PresentersJohnC.WobensmithApostolosZafoliasPeterAllenChiefExecutiveOfficerChiefFinancialOfficerSVp,Strategy&Finance+Over 25 vears of18years of experiencein15 years of experienceexperience in thethe shipping industrythe shipping industryshipping industry+Servesas the Company'sStrongbackground inM&A,S&P,commercialldrybulkmarket analystmanaging all aspects of albankfinancing anddrybulk shippingcapitalmarketcompany indludingtransactions*Holds CFAdesignationcommercial, technicaland financeHolds CFAdesignationHoldsCFAdesignation
Executive summary
Genco Shipping&Trading overviewThe largest U.S. based drybulk shipowner, with 44 moder, high quality vessels transporting both major (iron ore & coal) and minor (grains, cement, ferilizers, etc.bulkacrossallkey world-wide shipping routesOptimized risk return profile: low leverage (11% net LTV!) + high dividend payoutannualized vield based on Q42022dividend?)IHeadquartered inNewYorkwith global officesinSingapore andCopenhagen Direct exoosure to all drybulk trades transported acrossworld-wide shipping routesProvides a full-service logistics solution to our customersTransparent USfiler with no related party transactionsRated#1ESGshipping,company globallyNYSE listedundertickersvmbolGNKNetLTV isbaseBasedon the Webber Rese
FY 2022; continued strong financial performanceG2022 keyfinancialmetricsValuestrategyNatincomeattributable toGencoDividends飞FY202:$51586million, basic and diluted eamnings peQ4202:dedareda $0.590per share dhvidendshare:$3.74 and$3.70Annualizeddividendyield of 10%basedAdjustedEBITDA*our dlosing share price on Feb28,2023FY2022:$226.8millionWe have now declared 14 consecutive quarterlyFleet-wideTCE*dividends totaling $4.295 per share,$23,824perdayforFY2022;Outperformedourscrubber-adjustedDebt repavmentsbenchmark by nearly $3,000 per dayRepad S8.75 millonlin.QA, redudingour dedt toStrong liquidityposition,$171million as of Dec31,2022Total liquidity of $277.0m, consistingof$64.1mofcashPaid down$278m of debt outstandingand $212.9m of revolver avalablity,since Jan 2021Net loan-to-value of11%**as of Feb28.2023
Global drybulk trade and key routes~90% of global trade is carried by the international shipping industry - Genco's global footprint maximizerevenue generation by capturing market trends in real-timeOperationsIronOreOperationsCapesize focusCoalGrainMinorBullks
Gencotransoorted 25mdwt of drvbulkcommodities in2022We employ a diversified asset base consisting of large Capesize vesseland medium size Ultra/Supramax vessels.enablineustocarry a wide range of cargoes worldwideDrybulktradeis-halfofsaborne tradevolumeGenco'scommoditiescarriedPrimary useCommodity% of drybulk tradeIron ore28%SteelproductionMet/ThermalCoal:22%Met/Steelproduction+15%Global22%thermal coalpower generationSeaborneGrains:10%45%HumanTrade(%ef2022total)Grain10%Cement:8%25%MinorbulksPotash/Fertilizer:4%Steel/PieIron:49Alumina/Bauxite:3%Miscellaneous:8%
Global grain trade: key component ...
